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  •  the question is can we provide enough for (1+ / 0-)
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    domestic consumption?

    we don't really need as much as we import.

    check this out:

    Every president since Richard Nixon has called for energy independence. Nevertheless, U.S. reliance on imported oil long seemed to be headed in only one direction—up—and that pointed to inevitably increasing dependence on the huge resources of the Middle East.

    No longer. U.S. petroleum imports, on a net basis, reached their peak—60%—of domestic consumption in 2005. Since then, they have been going in the other direction. They are now down to 46%.

    What's happening? Part of the answer is demand. U.S. oil consumption reached what might be called "peak demand" in 2005 and has since declined. The country has become more efficient in its use of petroleum, and that will continue as vehicle fuel economy goes up. The economic slump has also muffled demand.

    But developments on the supply side are particularly striking. U.S. crude oil output has risen by 18% since 2008. Some of that has come from an increase in deep-water output, although after last year's Deepwater Horizon oil spill the pace of future growth is more uncertain. The big surprise is onshore, where the United States is experiencing an oil boom.

    i'm part of the 99% - america's largest minority

    by joe shikspack on Thu Mar 22, 2012 at 01:37:50 PM PDT

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    •  It's an oil boomlet, due to oil fracking (0+ / 0-)


      It won't last forever.

      But if the U.S. drastically reduces energy consumption quickly, it could theoretically return to not having to depend on oil imports.

      It's a race against time, though.... oil fields continue to be depleted.

      The President's increased CAFE standards are a huge step in the right direction, that much is sure.... halving the amount of gasoline used for transportation will be huge.

      "A candle loses nothing by lighting another candle" - Mohammed Nabbous, R.I.P.

      by Lawrence on Thu Mar 22, 2012 at 01:49:56 PM PDT

      [ Parent ]

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